2023 will be tough: The economic price of controlling inflation

Economists are warning Kiwis are in for an uncomfortable and tough 2023, Newshub reports, as the country tries to manage high inflation and global instability. New Zealand is currently battling a cost of living crisis driven largely by skyrocketing inflation. Inflation jumped to a whopping 7.3% – the highest it has been in three decades – as the country came out of the COVID-19 pandemic. But Infometrics principal economist Brad Olsen says that as Kiwis become increasingly nervous about the economy, they are spending less which could actually help the economy.